Loan Comparison: 2.68% vs 6.5%
804 Mulberry, Brighton, CO 80601 · 5bd/4ba · $589,999
List Price
$589,999
Assumable Rate
2.68%
Remaining Balance
$323,017
Equity Gap
$265,472
Loan Type
FHAAdjust Your Scenario
$29,500
$29,500$265,472
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 5.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,543/moAssumable @ 2.68% + gap loan
$3,121/moAssumed loan: $1,307/mo
Gap financing: $1,814/mo
$422less per month with the assumable
Your Savings on This Property
804 Mulberry, Brighton · 2.68% FHA vs 6.5% conventional
$422
per month
$5,059
per year
$151,766
over 30 years
$150,256
interest saved
How gap financing works: The equity gap ($265,472) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,500, 5% of purchase price) and a second mortgage for the rest ($235,972 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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